Steel mills in the United Kingdom will be heavily disadvantaged if blanket 25% tariffs are applied to their exports to the United States, Richard Warren, head of policy at industry group UK Steel, said on Friday March 2.
"There is significant apprehension about the indirect effects of these measures in the form of steel trade diverted away from the US to other markets, such as the UK," Warren said."In short, these measures would cause serious damage to the prospects of many steel producers here," he added.Under US law, Section 232 allows the country's president to apply trade sanctions on any imports believed to pose a threat to national security.Such tariffs have the ability to wreak havoc in...